Reduce Home Loans Policy for Brokers 2026

Identify the Offer and Funder

Identify the exact product before using a lender policy guide. Reduce’s Credit Guide describes Reduce Home Loans as a finance brokerage with Australian Credit Licence 388053. It explains that Reduce sources funding from financial institutions and usually doesn’t own the mortgage.

Its home loan comparison page lists named products including Basic Home Loan, EconoME and CompleteME. A product name establishes which offer you’re comparing. The loan documents establish who provides that credit.

Keep the roles distinct when reviewing a client’s quote:

• The originator arranges the application and gathers information.
• The legal credit provider is the entity named as lender in the credit contract.
• A mortgage manager handles the loan administration assigned to it.
• The funder supplies finance behind the lending arrangement. Its name can differ from the borrower’s contractual lender.

Record the product name and proposed lender’s legal name together. Add any mortgage manager or trustee identified in the documents, with each party’s role. The guide to Australian mortgage lenders explains the broader distinctions.

Obtain the selected product’s terms, fee schedule and application checklist through the Reduce contact handling the enquiry. Match the provider details across those documents and the proposed credit contract. Retain the versions used for the assessment so a later product change doesn’t silently replace the basis of your comparison.

Income and Applicant Requirements

Reduce’s lending FAQ says Australian residents over 18 can apply if they meet its lending guidelines. It also states that some products cater for self-employed borrowers. These statements establish an enquiry pathway, while the selected product determines the evidence and assessment requirements.

For employed applicants, the FAQ identifies recent payslips or an employer letter and a group certificate as general income evidence. Its checklist also calls for a signed application and certified identification. Gather evidence of the client’s actual circumstances, then match it to the chosen lender’s checklist.

For a self-employed applicant, establish which product accepts the business structure and how the lender verifies income. Put the required trading history and financial periods beside the documents requested. A product available to self-employed borrowers doesn’t by itself establish acceptance of an accountant’s declaration or another alternative documentation route.

Reduce’s application process starts through a Personal Finance Manager and includes a personal document portal. Its process describes an application review, requests for further information and a valuation before formal approval. Keep the initial enquiry separate from an approved loan.

If a client brings you a Reduce quote, establish who will handle the application and obtain the client’s authority before discussing their file. For an application through your brokerage, establish the permitted submission channel and remuneration arrangement before proceeding.

Property, Purpose and Features

Property and loan purpose can change which Reduce product fits, even when the requested amount stays the same. Record occupancy, postcode and property type alongside the purchase or refinance purpose. Separate any cash-out or debt consolidation from the amount needed to complete the main transaction.

The Basic Home Loan product page describes an owner-occupied variable loan with principal-and-interest repayments. It lists additional repayments and online redraw, with a $500 minimum redraw. Those features belong to that product’s published terms and don’t establish the same features across the range.

For an offset requirement, establish whether the selected product includes an offset and how much of the balance offsets interest. For construction or interest-only borrowing, use the relevant product’s terms. Keep redraw and offset separate in the comparison because they operate differently.

Calculate the loan-to-value ratio (LVR) using the lender’s accepted security value. Include financed costs in the proposed debt and show the contribution needed to complete the transaction.

In a hypothetical purchase, a $600,000 loan against an $800,000 property is 75% LVR. If the accepted valuation is $750,000, the same loan is 80% LVR. That difference can change the product or contribution required before settlement.

For refinance, Reduce’s FAQ requests six months of home loan statements and a rates notice for the existing security. For debt consolidation, it lists three months of statements for loans being paid out. Reconcile those debts with the proposed payout amounts and retain evidence of any liabilities remaining after settlement.

Compare and Confirm

Compare the Reduce offer and each alternative using the same verified borrower facts, security value and requested features. Keep one record that shows what supports each conclusion.

Ask a specific written question when a missing policy detail changes the recommendation. For example, identify the product and describe the self-employed applicant’s trading history, then ask which financial periods and documents the lender requires. Keep the response with the comparison and distinguish standard policy from an individual exception.

Use Reduce’s published contact number, 1300 733 823, to reach the team handling the offer. Request the selected lender’s answer where the issue depends on its credit decision. Recommend the option only after the evidence supports the required product fit and the remaining conditions are clear to the client.